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Eurozone PMIs in spotlight after Draghi’s ‘additional stimulus’ comments – Forex News Preview

Posted on June 20, 2019 at 9:39 am GMT

The flash release of the Eurozone PMIs for June will be on investors’ radar on Friday at 0800 GMT. After the European Central Bank chief, Mario Draghi, gave his clearest indication yet on Tuesday that more stimulus could be on the way, the PMI data will be watched closely for possible signs that Eurozone growth is stagnating again. In the meantime, there is some relief for the euro as the Federal Reserve makes an even bigger dovish turn than the [..]

BoE meets but pound’s focus on next UK prime minister – Forex News Preview

Posted on June 19, 2019 at 2:52 pm GMT

The Bank of England will announce its latest policy decision on Thursday at 1100 GMT and is widely anticipated to hold rates at 0.75%. Ahead of the BoE’s announcement, retail sales numbers for May will be watched at 0830 GMT. But with recent remarks by BoE policymakers reaffirming the Bank’s tightening bias, the June meeting could well end up being a non-event as there will be no press conference for reporters to quiz Governor Mark Carney on the Bank’s stance. [..]

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BoJ meeting: opening the door for more stimulus? – Forex News Preview

Posted on June 19, 2019 at 2:19 pm GMT

The Bank of Japan (BoJ) will conclude its meeting early on Thursday, and while no action is expected, the yen may still tumble a little if the central bank hints it could add more stimulus going forward. In the bigger picture though, the outlook for the currency seems to be brightening as both the Fed and ECB have much more ‘ammunition’ to ease than the BoJ does, with trade tensions further enhancing the yen’s allure. The BoJ finds itself in [..]

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Canadian inflation & retail sales figures may lift the loonie – Forex News Preview

Posted on June 18, 2019 at 3:08 pm GMT

After losing some ground last week in the face of a stronger US dollar and softer oil prices, the Canadian dollar will now turn its sights to the nation’s inflation and retail sales figures, due out on Wednesday and Friday respectively at 12:30 GMT. Forecasts point to a solid set of data overall, which could highlight what seems like a divergence between Fed and BoC policies, and thereby lift the loonie. The loonie has been largely unable to gain traction [..]

Fed’s upcoming rate decision could be “trade-biased” – Forex News Preview

Posted on June 18, 2019 at 12:21 pm GMT

Central banks cut interest rates when fears over an economic downturn are seriously mounting. This is the impression that markets are currently getting from the US as weakening economic data combined with heightening external risks dampen economic projections and hence raise the stakes for a rate reduction. The Federal Open Market Committee, however, announces its policy decision this Wednesday at a crucial time, a week before the G20 summit in Osaka, and policymakers may wisely judge that this is not the right [..]

Week Ahead – Markets seek rate cut signals from Fed; BoE and BoJ meet too; euro eyes flash PMIs

Posted on June 14, 2019 at 10:56 am GMT

Central bank meetings will be front and centre next week as the Federal Reserve, Bank of England and Bank of Japan convene for their policy decisions. The Fed will likely grab the most attention amid intensifying expectations of a rate cut. In terms of data releases, the main focus will be on inflation as Canada, the Eurozone, Japan and the United Kingdom report for the month of May. Flash PMIs out of the Eurozone will be important too, so will [..]

SNB to hold rates but could attempt to push back on rising Swiss franc – Forex News Preview

Posted on June 12, 2019 at 12:15 pm GMT

The Swiss National Bank will hold its quarterly policy meeting on Thursday with the announcement expected at 07:30 GMT. No changes in the Bank’s super low interest rates are being anticipated, but with the Swiss franc appreciating substantially in recent weeks on the back of growing global uncertainties such as trade frictions and Brexit, the SNB could toughen its language on the exchange rate. Growth rebound at risk from rising uncertainties The Swiss economy grew by a stronger-than-expected 0.6% quarter-on-quarter [..]

More Chinese data to direct on growth this week – Forex News Preview

Posted on June 11, 2019 at 2:14 pm GMT

With the G20 meeting looming large at the end of June and the trade war dust still far from settled, the Chinese calendar will attract extra attention than usual this week. On Wednesday at 0230 GMT, consumer and producer price indices will report on inflation, while on Friday at 0800 GMT, retail sales, industrial production and fixed investment will deliver further evidence on how the second quarter is shaping up. The data, though, may not be good enough to ease growth woes. [..]

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Australian employment report next to move aussie – Forex News Preview

Posted on June 11, 2019 at 2:00 pm GMT

The decision of the latest meeting in June of the Reserve Bank of Australia (RBA) was a rate cut after three years to a new record low of 1.25% and the market is anticipating two more 25-bps cuts before the end of the year. The Australian dollar, which had been resilient to the downward shift in the interest rate trajectory, is losing ground this week as the US dollar rebounds. The aussie now awaits the employment report for May due on Thursday at 0130 [..]

Dollar on standby for US inflation and retail sales data after poor jobs report – Forex News Preview

Posted on June 11, 2019 at 10:52 am GMT

With rate cut expectations running high following Friday’s disappointing NFP report, the focus for the US dollar this week is firmly on the latest inflation and retail sales figures. The inflation data is released first on Wednesday at 12:30 GMT, followed by the retail sales report on Friday, at the same time. As concerns grow about a sharp slowdown in the US economy, investors will be watching this week’s indicators for more clues about the timing of a rate cut [..]

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